(IAS18.14)
Revenue from the sale of goods shall
be recognised only if:
► the entity has transferred to the
buyer the significant risks and
rewards of ownership of the
goods;
► the buyer of the goods controls
those goods;
► the amount of revenue can be
measured reliably;
► it is probable that there will be an
inflow of economic benefits to
the entity; and
► the costs incurred can be
measured reliably.